For what it's worth, I agree with @laughingcreek; both filtering and ordering are needed. What's not necessary is arbitrary custom ordering, i.e., the ability to drag parameters around and have them stay where you put them.
Ideally, one could sort on any column in either direction. However, I've never personally wanted to use any sort order but ascending alpha on parameter name. If that were made the standard order but was not modifiable, I still think it would be a big improvement. The current order, chronological by wall-clock time of creation/definition, is useless.
Filtering and ordering need to work together. Ordered parameter names naturally lead to structured names such as bearing_6702_id. However, some things take a lot of parameters to fully nail down. Just filtering by "bearing" or even "bearing_6702" may winnow you down to a dozen parameters, but you'll still need to manually search for the one you want within that result list unless the list is sorted.
Of course, you could filter on the full name "bearing_6702_id," but that's a horrible use case to target. What people will actually want to do is type something like "be" and get a sorted, mostly-filtered list that might include some extranea.